Multiple Choice
A farmer sells futures contracts at a price of $2.75 per bushel. The spot price of corn is $2.55 at contract expiration. The farmer harvested 12,500 bushels of corn and sold futures contracts on 10,000 bushels of corn.
What are the farmer's proceeds from the sale of corn?
A) $27,500
B) $31,875
C) $33,875
D) $35,950
Correct Answer:
Verified
Correct Answer:
Verified
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